With rates still at historic lows, it may be worth your while to break your current mortgage for a lower rate, saving you not only interest costs but reducing your payment and also reducing your amortization – so you pay off your mortgage faster!  This may be the right strategy for you.

To read the full article…

The Government announced on January 17th that they will be making changes to their government backed mortgages.  Namely, any mortgage that has less than 20% as a downpayment (with a few exceptions).  The changes are very important and may affect you.  They are as follows:

Decrease amortization from 35 years to 30 years effective March 18th 2011

For most of my clients this does not mean you are…

To read the article and watch the video please click here…

Kim Gibbons, ” Your Mortgage Superhero ®”
Mortgage Broker
FSCO lic. M08001363
416-400-8107
kim@mortgagesuperhero.com
www.mortgagesuperhero.com…

On Monday Jan. 17th the federal government announced 3 changes concerning government backed (CMHC) mortgages. The three changes as are follows:

1. The maximum amortization will be decreased from 35 years to 30 years. This is effective as of March 18th, 2011 however, if you have an approval prior to that date for a closing after March 18th then you will still be able to obtain the 35 year…

With curent low rates, is it time to give your mortgage a checkup and see if you could be saving money? Take a look at the most recent article concerning this very subject in MoneySense Magazine, if you would like a free assessment on your mortgage feel free to contact us.

Please click here to read the full article….

Kim Gibbons, ” Your Mortgage Superhero ®”…

To watch the interview please click here…

For those considering a TD Canada Trust mortgage, take note.

TD Canada Trust made a  sweeping change to their mortgage lending effective October 18th, 2010.  They are no longer registering mortgage via a standard legal charge and will only accept a collateral charge.  This is very important as it relates to how your mortgage is legally registered and…

Bank of Canada increased their overnight rate on July 20, 2010 by .25% which brings the prime rate to 2.75%. Variable rates are still a great deal and now the best 5 year closed variable is at prime – .65% or 2.10%.

To watch to video clip from Global News please click here…

Kim Gibbons, ” Your Mortgage Superhero ®”
Mortgage Broker
FSCO lic. M08001363…

There are many things to consider when looking at making a choice to have a hybrid or split mortgage.  The below noted article article touches on a few items only but there are other pros and cons as well. 

Although on the upside it may reduce your overall rate risk depending on the product you are in, it may be difficult to easily transfer your mortgage at the time…

When getting a mortgage – or when reviewing your current mortgage strategy – it is helpful to begin thinking about the mortgage options with which you would feel most comfortable.  By having an understanding of your priorities and preferences the mortgage process will become more efficient and your satisfaction over the term of your mortgage is likely to be higher.

Here are some questions that you should consider and…

Sean O’Shea from Global News caught me in between Victoria Day barbeques to discuss the importance of your credit bureau as it pertains to obtaining a mortgage.

click here to watch the news segment

The Bank of Canada is expected by many economists to raise short-term interest rates in June or July, prompting many homebuyers and mortgage holders to ask whether a variable-rate mortgage or a fixed-rate mortgage is best for them.

How, exactly, are mortgage rates offered by lenders determined?  Many Canadian mortgage holders are surprised to learn that the pricing for variable-rate and fixed-rate mortgages are determined by two different means…

Take a look at the Global News – Consumer SOS report from April 20th where a discussion of interest rates took place on the heels of the Bank of Canada overnight rate announcement:

click here for the link

The new mortgage rules that the Federal Government has imposed take effect today. Here are the new rules and how they may affect you:

1. Qualifying rates have changed for variable rates and fixed rates with terms of 1-4 years for mortgages that are insured via CMHC and other insurers. This means for purchasers that are putting less than 20% as a down payment. This new rule does NOT…

Here is an article I was quoted in regarding mortgage rates, refinances and prepayment penalties:

Click here to read…

After July 1, 2010, every residential real estate transaction in Ontario will face a significant tax increase. Specifically, home buyers and sellers can expect to pay 8% more on legal fees, appraisals, real estate commissions, home inspection fees, moving costs and the provincial government’s forthcoming system of mandatory home energy audits.  While the impact  of the tax will…

Considering a second mortgage? Here is some advice…
Second Mortgages – PDF

Keeping yourself organized during your move – a checklist…
-moving checklist

Dreaming of being mortgage free? Here is some advice…
Fast-tracking to mortgage-free – PDF

Keeping your home safe. A spring checklist…
Safe As Houses Spring Checklist – PDF

Protect your home and garden investment. An autumn checklist…
Homeowners Autumn Checklist – PDF